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New York Life Clear Income
Fixed Annuity — FP Series1

Find clarity in retirement.

For many, the key to retirement success is matching your retirement income to the lifestyle you desire. That’s why deciding how to generate income during retirement is so critical. If you want to be able to build income and grow your assets, all while remaining in control of your money, then you may want to consider the New York Life Clear Income Fixed Annuity – FP Series.

Clear Income is a fixed deferred annuity designed for people looking for income with some liquidity. It offers a unique combination of income, flexibility, and security – giving you income for life without forfeiting your sense of safety or the flexibility to adapt when plans change.

Automatically included is a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider, subject to a rider charge. The rider ensures that you will receive income for as long as you live – no matter what (provided your policy is not surrendered).2

Rates are effective as of [DATE] and are subject to change at any time.

Premium
Amount
Book Value
Accumulation Value
7-Yr Initial Interest Rate Guaranteed/Surrender
Charge Period3
MVA
Accumulation Value
7-Yr Initial Interest Rate Guaranteed/Surrender
Charge Period3
Income Base
Annual Increase Rate
(Roll-Up Rate)4
Book Value Lifetime Withdrawal Rate
(percent of Income Base that determines your guaranteed income payments)
Age at First
Withdrawal
Single Life Policy Joint (Spousal)
Life Policy
MVA Lifetime Withdrawal Rate
(percent of Income Base that determines your guaranteed income payments)
Age at First
Lifetime
Withdrawal
Single Life Policy Joint (Spousal)
Life Policy
59½–64 5.20% 4.70%
65–69 5.70% 5.20%
70–79 6.10% 5.60%
80+ 6.85% 6.35%

1. The New York Life Clear Income Fixed Annuity – FP Series is issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware corporation, a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Ave, New York, NY 10010. Available in jurisdictions where approved. Not available in California, Delaware, Guam and New York.

2. All guarantees are dependent upon the claims-paying ability of NYLIAC.

3. Withdrawals during the first 7 years of the policy may be subject to surrender charges and/or a Market Value Adjustment (MVA).  The interest rate is an effective annual yield based upon a nominal rate that is compounded daily.  Yields assume no additions or withdrawals made during the guaranteed period.  After the initial guaranteed interest rate period, the policy will receive a renewal rate that is guaranteed for one year.  The Guaranteed Minimum Interest Rate (GMIR) for policies within surrender is 1.30% and the GMIR for policies out of surrender is 1.00%. Please call your representative for current interest rates on premium amounts of $1,500,000 or more.  Policies with premium amounts of $1 million or more require prior NYLIAC approval.

4. The Income Base is a value upon which the lifetime withdrawal benefit amount is calculated. It is separate from the Accumulation Value and has no cash value.

In most jurisdictions, the policy form numbers for the New York Life Clear Income Fixed Annuity – FP Series are ICC14-P110 (book value) and ICC14-P130 (MVA); in some states they may be 214-P110 (book value) and 214-P130 (MVA), and state variations may apply. In most jurisdictions, the rider form numbers for the Guaranteed Lifetime Withdrawal Benefit Rider are ICC14-R101 (book value) and ICC14-R102 (MVA); in some states they may be 214-R101 (book value) and 214-R102 (MVA), and state variations may apply.

Annuities:

  • Not FDIC/NCUA insured
  • Not a Deposit
  • May Lose Value
  • No Bank Guarantee
  • Not Insured by Any Government Agency

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